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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- White Energy Company Limited
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
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